Hayden Wood, Co-founder and CEO of Bulb said: “We’re on a mission to reduce bills and cut carbon emissions so I’m pleased to announce another Bulb price drop today. Bulb’s renewable energy is now £250 cheaper than standard Big Six plans.

“Our single tariff reflects the true cost of supplying energy: when energy costs fall, we pass on those savings to our members. Last year, millions ditched the Big Six for a better deal on their energy. And with Big Six bills set to go up in a few weeks, there’s never been a better time to switch.”

Additional Information

Bulb says wholesale gas costs have been falling and are now 12% lower than they were in December last year.

Mild weather in Europe and China meant gas storage levels remained “healthy” throughout the winter, which pushed gas costs down.

While wholesale electricity costs have also fallen by 12% since December 2018, network and policy costs in the UK have increased which have led to an increase in power costs.

The supplier adds the continued fall in the wholesale cost of gas made it possible to pass the savings on to consumers via a change in the gas unit rate.